If you lose your job after reaching the age of 58, you have the option of voluntary continued insurance. The advantages: Your risks of death and disability remain insured, you may continue to pay savings contributions if required and thus increase your retirement capital – and you benefit from an on-average higher rate of interest.
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Important
As an insured person, you may continue at least the risk insurance (disability and death) or additionally the pension scheme (saving process). All contributions – both the employee and employer portions – must be borne in full by you. The contributions break down as follows:
- risk contribution
- Administrative fees
- savings contribution (continued pension scheme)
- any recovery contributions in accordance with Art. 50, Sec. 3 of the Pension Fund Regulation (employee contributions only)
An overview of the annual costs can be found on your current insurance certificate. The amounts are shown under risk contribution, savings contribution, and administrative costs.
Summary of key points:
- Anyone who loses their job after the age of 58 may remain insured in the pension fund on a voluntary basis with the previous pension benefits.
- Insured persons can plan their pension provision more flexibly and, upon reaching the reference age, may also draw their retirement capital in the form of a pension.
- Voluntary continued insurance may be terminated at any time and ends at the latest upon reaching reference age or when starting a new job.
- Contributions are financed 100% by the voluntarily insured persons.
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